A new class of millionaire football players just secured NFL contracts with the draft but the vast majority of them will not keep their fortunes secure for very long.

The NFL is taking active steps to try to help curtail the staggering rate by which football players blow through their multi-million dollar contracts.

Contracts awarded to top players- like this year's first round draft pick Jadeveon Clowney who landed a $22million contract with the Houston Texans- lead to spending excesses in a surprisingly high number of cases.

Number one: Jadeveon Clowney was drafted by the Houston Texans and is expected to make between $22million and $25million in his first four seasons

In 2009, Sports Illustrated calculated that 78 per cent of all NFL players end up bankrupt or basically bankrupt within two years of their careers ending- if not sooner.

'I've made millions and Iost millions... I bought a ton of jewelry coming out, cars, a stereo system that was worth more than the car,' former first round draft pick Eddie George said to CNN Money.

Taking care of mom: Clowney said that his first priority for his paycheck will be to make sure his single mother Josenna, who works at a potato chip factory, is looked after

George was the first round pick in 1996 and played for nine seasons before virtually running out of money.

'I found out real quick that money and ignorance is not a good combination.'

Now the NFL has actively started addressing the issue and calls for rookie players to attend a three-day symposium where they are given some lessons in financial basics.

'The best advice I got was to remain humble,' former Tennessee Titans player-turned-Rhodes scholar and medical school student Eddie George said.

'There are veterans on the team who have six or seven cars they drive to practice and Louis Vuitton and Prada suits. If you give into that lifestyle, you go broke quickly.'

Individual teams have their own guidance programs as well.

Last year's Superbowl winners, the Seattle Seahawks, put 'Mo' Kelly, the director of player development, up to the task and he told CNN that the best way is to talk it through with the athletes individually by teaching them how to budget.

'A lot of these guys don't have any concept of money. I always ask the question: How many of you guys ever made over $10,000 a year in your life?' Kelly said.

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He then goes on to explain credit scores and the importance of calculating for taxes when looking at their paychecks.

The
biggest paycheck from this season is undoubtedly going to Clowney, who
some estimated will make up to $25million in his first four seasons.

'This feels great, I've been waiting all my life for this,' he said following Friday night's draft.

Words of wisdom: Former Tennessee Titans player-turned-Rhodes scholar and medical school student Eddie George (left) urges rookies to remain humble while Seahawks director of player development 'Mo' Kelly (right) goes through lessons on budgeting and credit scores with his new players every season

'I grew up the hard way. A lot of people said I'd be nothing.

'But I always said I'd be something one day and here I am.'

It was a life-changing moment for Clowney, who was raised by a single mother who has spent the last 20 years working in a potato chip factory just to make ends meet.